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Senate Could Vote On Marijuana Banking Protections This Week


Two senators are trying to force a vote this week on a new measure that would prevent federal officials from “carry[ing] out activities that prevent or interfere with the implementation of State laws that authorize the use, distribution, possession, or cultivation of marijuana.”

The amendment, filed on Tuesday by U.S. Sens. Cory Gardner (R-CO) and Elizabeth Warren (D-MA), would still allow the feds to go after any cannabis operator who violates the guidelines of two Obama-era marijuana memos, even though those documents were rescinded by U.S. Attorney General Jeff Sessions earlier this year.

The bipartisan duo is seeking to attach the language to a broad bill funding parts of the federal government for Fiscal Year 2019.

Interestingly, though, the measure doesn’t cover the Department of Justice, so it would apparently leave cannabis business leaders and consumers at risk of arrest by the Drug Enforcement Administration and prosecution by U.S. attorneys, even if they abide by the provisions of the Obama administration memos or state laws.

The legislation does, however, cover the Treasury Department, so if the language is enacted it would appear to shield financial institutions that work with marijuana businesses from being sanctioned by federal banking regulators for that activity. But, because the Justice Department’s enforcement efforts would remain unimpeded, those banks would still potentially be at risk of asset forfeiture or criminal sanctions related to marijuana profits that remain federally criminalized.

Separately, Warren and Gardner are teaming up on broader standalone legislation that would let states implement their own marijuana laws without federal interference. President Trump voiced support for that bill last month.

https://www.marijuanamoment.net/senate-could-vote-on-marijuana-banking-protections-this-week/